Pramod Mittal, suspected of funnelling millions of euros from the Global Ispat Coke Industries (GIKIL) company, was released on bail, after paying €1.5 million, the Prosecution said Tuesday.

The acting prosecutor in the case, Cazim Serhatlic, explained that one and a half million euros were divided in such a way that a guarantee of one million euros was given for Mittal, and a guarantee of 250 thousand euros was given for the other two suspects.

“The court took euros because it was the simplest form of payment. With the prohibition measures imposed by the Court, the suspects can't participate in the GIKIL supervisory board or the company's management,” Serhatlic said. “The investigation determined that the suspects had no right of managing the company since 2018 and these measures only confirmed that.”

He added that the Prosecution asked for the payment of €11 million to the company's account which would serve to protect the company against requests for the compensation of damages, which the defence agreed to. After this, the Court decided to accept bail and released the suspects.

Last Wednesday, the Prosecution arrested Pramod Mittal, the general manager and two members of the supervisory board of Bosnia's only coke producer based near the central-Bosnian town of Tuzla, on the account of organised crime and abuse of office, funnelling millions of euros from the company which employs around a thousand workers.